> Deliveroo was in financing talks last year with SoftBank Group Corp., one of Uber’s major investors. The negotiations abruptly ended after SoftBank concentrated on backing Uber.
So Deliveroo wanted a loan, but Uber convinced Softbank that they shouldn't be loaning money to their competitor so that they put Deliveroo in a bad position in which Deliveroo may have no choice but to take Uber's deal.
Sounds like a nasty move from Uber, but then again, what else is new?
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[ 12.2 ms ] story [ 442 ms ] threadSo Deliveroo wanted a loan, but Uber convinced Softbank that they shouldn't be loaning money to their competitor so that they put Deliveroo in a bad position in which Deliveroo may have no choice but to take Uber's deal.
Sounds like a nasty move from Uber, but then again, what else is new?